The Great Recession. Profit cycles, economic crisis A Marxist View
Michael Roberts new and ground-breaking book is available in full online. Roberts is an economist who has worked in the City of London for 30 years. He predicted the Great Recession several years before it happened and in this book he explains why the Great Recession happened, based on Marxist analysis of the laws of motion of capitalism.
Roberts offers an original analysis of the capitalist economic system based on the conjunction of various cycles of motion in construction, manufacturing and financal markets, but with Marx's profitability cycle as the driver of all.
Roberts also generates empirical evidence to support the Marxist analysis with the most comprehensive data yet on the rate of profit, not only for the US economy, but also in other major capitalist countries.